Sun Capital Partners has agreed to acquire a controlling interest in American Standard Americas, a company recently formed by Bain Capital via its $1.76 billion acquisition of the Global Bath and Kitchen business of American Standard Companies Inc. (NYSE:ASD). No financial terms were disclosed. Bain Capital will retain a minority interest in ASA, and will remain the majority owner of American Standard International (in which Sun will not hold an interest).
Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has signed an agreement to acquire a controlling interest in American Standard Americas (“American Standard”), a company recently formed by Bain Capital Partners (” Bain Capital”) through its acquisition of the Global Bath and Kitchen business of American Standard Companies, Inc. (NYSE:ASD). Terms of the acquisition were not disclosed.
With an operating history of over 130 years, American Standard is one of the largest North American manufacturers of bath and kitchen products. The Company participates in all key product categories such as bathroom and kitchen faucets, fixtures, and furniture with leading positions in toilets and the number two position in bathroom fixtures in the U.S. and overall category leadership in Canada and the Dominican Republic. Products are marketed under such brand names as American Standard